Tamil Nadu Government to Launch an Incubation Facility for Startups

After Karnataka and West Bengal, now Tamil Nadu government is planning to set up incubation facilities for startups to promote new ventures and assist upcoming entrepreneurs by creating a rich ecosystem. The startups will grow with the guidance of Nasscom, the industry body for software companies. The first start-up warehouse will be set up at Tidal Park in Chennai.

As per a TOI report, the warehouse will incubate and accelerate quality startups in partnership with the better incubators in the country. The incubators in Tamil Nadu will be integrated into ‘the 10,000 startups’ programme by Nasscom across India. Also, the warehouse programme will help to create awareness among entrepreneurs, build entrepreneurial capability through events and link investors and mentors with start-ups.

An order from the Government said, “As a major step to support young entrepreneurs, from 2014-15 onwards, this government will make available 10% of space exclusively for Information Technology Incubation Centres as ‘Warehouses for Start-ups’ in all information technology parks developed by the government.”